Patna: Gold and silver prices in Bihar have surged sharply ahead of Diwali, leaving many households struggling to afford jewellery purchases during the festive season.
In Patna, the price of 24-carat gold is currently Rs 110,200 per 10 grams, rising to Rs 113,506 after GST. Rates for 22-carat gold stand at Rs 102,200 per 10 grams before tax, while 18-carat gold is priced at Rs 84,600.
Silver prices have also climbed, with one kilogram in the bullion market costing Rs 129,000, or Rs 132,870 after GST. Hallmarked silver jewellery is selling at Rs 127 per gram, compared with Rs 124 for exchange and Rs 122 for non-hallmarked jewellery.
Traders say the sharp rise in prices has slowed activity in the jewellery market, although they expect demand to revive as Dhanteras and Diwali approach. Buying gold and silver during these festivals is traditionally considered auspicious, and many families are expected to purchase at least lightweight ornaments despite the higher rates.
Experts argue that gold and silver remain safe investments and believe people will continue to buy, even in smaller quantities. For old gold exchanges, the rate is Rs 99,200 per 10 grams for 22-carat ornaments and Rs 81,000 for 18-carat jewellery.
